YEAR EVENTS 1960 - An industrial licence was granted to the Company in June for the manufacture of 1,20,000 nos. of hydraulic (telescopic) type shock absorbers per annum at Mumbai. 1961 - Gabriel India Ltd. was incorporated as a private company on 24th February. The Company is promoted by the The Gabriel Company, Cleveland, Ohio, U.S.A. and Mr. & Mrs. Dharam Chand Anand, Mr. Kuldip Chand Anand and Satish Chand Anand (collectively called as the Anands). It was converted into a public limited company on 21st May, 1964. - The Main Object of the Company is to manufacture shock absorbers, bimetal strips and bimetal bearings. - The Company entered into a financial and technical collaboration agreement with The Gabriel Company, Cleveland, Ohio, U.S.A., on 29th August, for the implementation of the shock absorbers project. - Allotted 4,750 shares to Gabriel International Inc. U.S.A. and 4,750 shares to promoters, directors, etc. 1963 - The Gabriel Company, U.S.A., was wholly acquired by Maremont Corporation, U.S.A., in November. Maremont thus became the holding company of Gabriel International Inc., Panama, U.S.A. - Federal-Mogul Corporation, U.S.A. were the Company's technical and financial collaborators for the manufacture of copper-lead alloy powders, bimetal strips (both babbit and copper-lead type) and bimetal bearings. 1964 - 9,500 Right shares issued at par in prop. 1:1. 1966 - During September, a licence was granted for substantial expansion of the capacity of the shock absorbers from 1,20,000 Nos. to 10,00,000 Nos. per annum. 1973 - Issued 19,000 Bonus shares in Oct. 1966 in prop. 1:1 and 19,000 Bonus shares issued in prop. 3:2 on 29.5.1978. 1978 - Shares subdivided on 28.11.1977. 8,55,000 Bonus shares issued in prop. 3:2 on 29th May. - Issued 3,69,600 shares to Federal, Mogul Corporation, U.S.A. and 3,17,400 shares to Financial Institutions both at par, 5,28,000 shares offered at par to the public in September. - Gabriel International Inc., Panama and the major Indian shareholders on 28th August, sold, 1,57,900 No. of equity shares of Rs.10 each of the Company to ICICI, IDBI, LIC, UTI and GIC and its subsidiaries. - After the issue of shares to the public during September, the non-resident holding in the Company was reduced to less than 40%. 1979 - The Company entered into a technical collaboration with Newton & Bennet Ltd., U.K., to improve the quality of heavy duty shock absorbers for Railways and Defence applications. 1985 - The Company entered into an agreement with Maremont Corportion, U.S.A., for the manufacture of McPherson struts. Incidentally a letter of intent for McPherson struts was received by the Company from Maruti Udyog Ltd. - At its Mulund works, consequent upon labour unrest, a 3-week lock-out was declared. 1986 - Industrial unrest disrupted the operations of the Company. - A letter of intent was received from Maruti Udyog Ltd. for the supply of McPherson struts for Maruti vans. 1987 - A collaboration agreement was signed with IIC - SOQI of the Yamaha Motor Company Group for the manufacture of two-wheeler shock absorbers. A new plant was set up at Nasik in Maharashtra for the purpose. - A new plant was also being set up at Nasik to manufacture front forks for motor cycles. A technical collaboration agreement was also signed with Yamaha Motor Co. in this respect. - Another plant was being set up at Dewas in Madhya Pradesh for the manufacture of shock absorbers. - A new plant was set up for expanding the capacity for manufacture of aluminium-tin as well as copper-lead thin walled bearings at the bearing plant at Parwanoo. - A technical collaboration agreement was signed with BHW, Germany, for the manufacture of large size as well as thick-walled engine bearing at a plant to be set up at Parwanoo. 1990 - The Engine bearing division suffered a setback due to industrial relations problems for a period of three months. The modernisation programme of the plant was also affected adversely due to industrial unrest. 1991 - During April the Company issued 3,69,600-14% secured redeemable partly convertible debentures of Rs 200 each on rights basis to the existing equity shareholders in the ratio of 7 debentures for every 50 equity shares of Rs 10 each held. Additional 45,076 debentures allotted to retain oversubscription. - Simultaneously, 18,480 debentures were offered to the employees (including Indian working directors)/workers of the Company on an equitable basis. Additional 343 debentures were allotted to retain over-subscription. All these debentures were allotted on 30th May. - As per the terms of issue, Rs 120 of each debentures was to be converted into four equity shares of Rs 10 each at a premium of Rs 20 per shares at the end of 6 months from the date of allotment of debentures. - The balance Rs 80 of each debenture would be redeemed at par at the end of 7th, 8th, 9th and 10th year from the date of allotment in four equal instalments of Rs 20 each. - 17,33,996 shares allotted (prem. Rs 20 per share) on conversion of debs. 85,197 shares allotted to Gabriel International Inc. U.S.A. - Exports were adversely affected due to the disruption of bilateral rupee trade with erstwhile Soviet Union. 1992 - The Company's two state-of-the-art plants, for the manufacture of shock absorbers at Dewas, M.P. and Front Forks for motor cycles at Nasik, went into commercial production. 1994 - The Company proposed to issue 14% partly convertible debenture of Rs 250 each of the aggregate nominal value of Rs 66.89 crores to the shareholders on Rights basis in prop. in order of 5 equity shares : 3 PCD of face value of Rs 250 each to meet the long term requirement of funds for the on-going expansion, divesification and modernisation programmes. - Part `A' portion of Rs 125 of PCDs shall be automatically and compulsorily converted into one equity share of Rs 10 each of the Company at a premium of Rs 115 per share on expiry of 12 months from the date of allotment of the debentures. - Part `B' portion of Rs 125 each of PCDs were to be redeemed in three annual instalments at the end of 6th, 7th and 8th year from the date of allotment. 1995 - The Company doubled the capacity for Shock Absorbers at its Dewas plant and Front Forks at its plant in Nasik. Two new state-of-the-art plants for the manufacture of high quality shock absorbers and struts were being set up in Pune and Hosur to cater to the OE requirements for the new generation vehicals and exports. - The Company has entered into technical collaboration with Kayaba Industries, Japan for manufacture of shock absorbers and struts for Maruti Suzuki range of vehicals. 1996 - Engine Bearing division increased capacity by introducing a automated line purchased from USA to meet the increasing requirements of both domestic and export markets. - 26,75,198 No. of equity shares issued on conversion of 14% PCDs. 1997 - A new state-of-the-art plant for manufacturing high quality shock absorbers for 2/3 wheelers was set at Hosur. - New plants for the manufacture of struts and shock absorbers are being set up at Khandsa. - A new state-of-the-art autoline has been installed to enhance quantities and quality. - A new agreement with Arvind Industries to put in the latest technologies at the new Pune plant has been signed. - GIL has subsequently entered into collaborations with Yamaha Motor USA for two-wheeler front shock absorbers and struts and Federal Mogul USA, for sliding contact bearings to feed export markets. - GIL's foresight in setting up manufacturing set-ups close to OEM's has started paying rich dividends - as for all its OE consumers who have expanded capacities, implementing concepts like just-in-time (JIT) are becoming imperative. 1998 - Gabriel India Ltd (GIL) stands as a leader in the ride control equipment in the country. - The Company has technical collaboration with Gabriel Ride Control Products Inc. and Federal Mogul Corporation - both of the US - for its other plants. - Gabriel India has introduced a voluntary retirement scheme (VRS) for its executives and workmen who have completed 10 years of service or 40 years of age. 1999 - The company has also expanded its capacity for engine bearings at Parwanoo in MP, and is setting up a new product line for manufacture of struts in the Kayaba design for Maruti car. 2000 - Crisil has assigned BBB rating to the proposed Rs 150 million NCD issue of the company. The outstanding rating on the NCD issue of the company has been downgraded to BBB from A. 2005 -Company has splits its Face value of Shares from Rs 10 to Re 1 2006 -Gabriel India signs contract with Arvin Meritor, USA 2008 - Gabriel India Ltd has appointed Mr. Rajeev Vasudeva as an additional Director. 2010 - Gabriel India Ltd has appointed Mr. John A. Crable as the Director in Casual Vacancy created by the resignation of Mr.Rakesh Sachdev. 2011 -Mr. H. R. Prasad has been appointed as Additional Director. -The company have declared Final Dividend of 70% i.e. Rs. 0.70 per equity share. -The Company have been appointed Mr. Manoj Kolhatkar as Joint Managing Director. -The Company have declared an Interim Dividend of 40% i.e. 40 paise per equity share. 2012 -Mr. Kawal Jaggi has been appointed as the Chief Financial Officer (CFO) of the Company. -The company have declared 2nd Interim Dividend of 60% i.e. Rs. 0.60 per equity share. -The company has declared a bonus issue in the ratio of 1:1. 2013 -Gabriel India Ltd. won the first prize in the medium size category of FICCI Quality Systems Excellence Awards for 2012 for manufacturing a second time in a row. -Gabriel India opens new two-wheeler R&D centre at Hosur 2014 -Gabriel India Ltd (Gabriel) signed a technology license agreement with KONI B.V. (KONI) part of ITT Corporation (NYSE:ITT) for Commercial Vehicle, Buses and Industrial Equipment suspensions in India. -Gabriel sponsors the Volkswagen Polo R Cup 2014 2015 -Gabriel India, Chang Yun India win big at ACMA Awards -Gabriel garners accolades at FICCI Quality Systems Excellence Awards Bags Second prize in Large Size category -GABRIEL India does it again. Features amongst the Top 50 Best companies to work in India 2016 -ANAND Group companies, namely Gabriel India, Chang Yun India and Spicer India recognised with prestigious ACMA awards, Aug 30, 2016 -Gabriel has been awarded with Silver Quality Award from Bajaj Auto Ltd. during the BAVA (Bajaj Auto Vendors Association) Waluj Cluster Convention 2016 2017 -Gabriel India, Dewas plant, was felicitated with a Silver award in the `Large Size' category for 2017 by FICCI. -Gabriel India (Parwanoo team) won the Golden Peacock HR Excellence award. -Gabriel India, Khandsa plant, recognised as one of the best workplaces in India for providing employment opportunities to women engineers. 2018 -Gabriel India's `Team Ridhm' won the first runner-up award under the `Customer Complaints' category. -Gabriel India has been recognised by Pune Best Brand Awards 2018. 2019 -Gabriel India, Dewas plant felicitated with 'Certificate of Consistency' by one of its esteemed customers, Powerdown, Australia. -Gabriel India was recognised by Yamaha Motor India. -Gabriel India was awarded for Cost Competitiveness at Suzuki Vendor Conference 2019. 2020 -Gabriel India secured first rank at the Nation Case Study Competition organised by ACMA India. -Gabriel India, Chakan plant, received the 2nd Runner-up award in the Western Region Quality Circle Competition organised by ACMA. 2021 -Gabriel India, Dewas plant, received the ACMA Excellence Award 2020 for 'Excellence in HR' and 'Excellence in New Product-design and Development'. -Gabriel India, Dewas plant, recently won the CII Gold Award in the `Low-Cost Automation' category.